E54: Morgan Creek Capital’s Endowment Style Investing – Frank Tanner

Frank Tanner sits down with David Weisburd to discuss Anthony 'Pomp' Pompliano's role at Morgan Creek as well as the company's origin, growth, and guiding principles. They dive into understanding power laws in venture capital, early-stage investing, and Morgan Creek's manager selection process. (0:00) Introduction to Venture Capital Focus & Power Laws (0:49) Welcome & Pomp's Origin Story at Morgan Creek (2:12) Morgan Creek's Beginnings & LP Expectations (3:38) Finding Alpha in Venture & Digital Assets (5:02) Sponsor: Deal (6:34) The Necessity of LP Partnerships & Insight on Mark Yusko (8:01) Regional Influence on Firm Success (9:56) Venture Capital Focus & Co-Investing Best Practices (11:45) Evolution of Venture Capital & Future Outlook (13:27) Portfolio Construction Strategies (16:28) Sponsor: Carrier Labs (17:00) GP Selection & Avoiding Misses (18:23) Common Mistakes by New GPs & Reasons to Scale (20:24) Morgan Creek's Value Proposition & GP Engagement (21:06) GP Insights & Secondary Solutions (22:01) Final Thoughts & Invitation to UNC Game (22:33) Closing Remarks & Promotions